Price Discrimination Occurs When

question 1

Multiple Choice

Price discrimination occurs when

• A) firms maximize their profit by setting price equal to marginal cost.
• B) a seller charges different prices to different consumers for the same product or service.
• C) a seller charges the same price to consumers for a different product or service.
• D) a seller charges different prices to consumers, discriminating by race or gender of the consumer.

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Definitions:

Contingency Planning

The development of strategies and actions to prepare for and respond to unexpected events or emergencies in order to minimize risk and impact.